“Fraudulent claims – how much has changed in the last six months?”
The summer of 2016 has provided a number of decision on fraudulent claims, including two in the Supreme Court. The Insurance Act 2016 with its provisions on this subject is now in force. The case of Versloot divided opinion not just in the Supreme Court who decided it in July but also in the ranks of lawyers and insurers who pondered its implications. Some saw it as a “fraudster’s charter”; others as a rational step away from the most anomalous aspects of an anachronistic common law rule. The decision gives in one sense a simple answer to the key question posed on appeal, but it raises others, and provides much food for thought for insurance lawyers interested in the conceptual analysis as well as the result. Insurers were more successful in Zurich v Hayward, also concerning fraudulent claims. The talk will consider amongst other issues “what is fraud ?”, “what is a fraudulent claim ?” and what is the relevance of the post contractual duty of utmost good faith.
Our speaker is Richard Lord QC, leading counsel for the successful appellant assured in Versloot. Richard has specialised in commercial litigation and in particular in marine insurance since joining Brick Court Chambers over 30 years ago.
Peter Macdonald Eggers QC of 7 King’s Bench Walk will talk on “Joint and Composite Insurance Policies”; further information to follow.
On the 14th October 2016, BILA is pleased to welcome Professor Rob Merkin QC, University of Exeter; Special Counsel, DLA Piper for his Annual Update on Insurance Law. The Lunchtime Lecture will be held at 1pm in The Old Library, Lloyd’s, 1 Lime Street, London, EC3M 7DQ, courtecy of Lloyd’s of London.
Hosted by the BILA Future Insurance Professional’s Group, in association with the Lloyd’s Market Association
A series of talks giving a unique opportunity to get a ‘client’s eye view’ of how the Industry works
Talk 5: “Lloyd’s and the London Market – with a hint of The City’s History”
Date & time: Monday 3rd October 2016, 9am – 10am (Registration opens at 8.45 a.m.)
Steven McEwen, Partner, Hogan Lovells will be speaking about the law, rules and practice relating to the management of the assets and liabilities of insurers under Solvency II.
Ben Elkington QC of 4 New Square will be giving a lecture on “The Glorious Twelfth – A practical guide to analysing and litigating claims governed by the Insurance Act 2015”
From 12 August 2016 a new legal framework will apply to insurance claims. This talk is intended to give practical guidance to practitioners to assist them in analysing and litigating insurance disputes governed by the Insurance Act 2015. The focus will be on the duty of fair presentation, warranties, terms not relevant to the loss and fraudulent claims.
About our speaker
Ben Elkington QC is a well known insurance specialist practising from 4 New Square. He regularly appears in Court litigating insurance disputes, acting for policyholders and insurers in equal measure. He is therefore perfectly placed to give guidance on how to analyse and litigate insurance disputes under the new legislation.
Ben is ranked in the directories as a leading silk in the fields of insurance, commercial dispute resolution, professional negligence and property damage. He accepts instructions to act as an arbitrator and is an ARIAS panel member.
Timothy Hill QC and Alex Thompson of 20 Essex Street will be speaking about business interruption insurance.
Timothy Hill QC specializes in international commercial litigation and arbitration, the latter carried out under the rules of all the major arbitral institutions. His disputes tend to be of very high value, complex or of an urgent nature involving swift interim relief. He is well known for his ability to quickly master complex and technical cases. He works across all sectors but with a particular specialty in the shipping, commodities, energy and insurance (marine and non-marine) sectors. Other commercial litigation which he regularly undertakes includes: joint ventures and shareholders’ agreements, distribution agreements, commercial agencies, banking and finance with particular expertise of the ISDA Master Agreement, enforcement of guarantees, arbitration (practice & procedure), civil fraud and sanctions.
Alexander Thompson joined 20 Essex Street in September 2015 following the successful completion of his pupillage. He is developing a broad commercial practice in line with Chambers’ profile. He is particularly interested in international and domestic insolvencies and restructuring, company law and breach of trust disputes, civil fraud and asset tracing, banking and finance. By way of example, he is presently instructed as junior counsel (with Blair Leahy) in a substantial multi-million pound s. 423 claim in the Chancery Division.
Tim and Alexander will cover:
• The fundamentals and oddities of BI insurance policies.
• Understanding turnover, gross profit, and the risks and consequences of inaccurate cover.
• Brokers’ duties and customers’ responsibilities when concluding BI policies.
Richard West – Financial Ombudsman Service
Richard is a lead ombudsman at the Financial Ombudsman Service. He has responsibility for the ombudsman’s policy and approach to complaints across all casework areas.
Richard is also a solicitor and jointly heads up the ombudsman’s legal and jurisdiction team, where his focus is on regulatory and jurisdiction matters. As part of that role, he leads the ombudsman’s work on the implementation of the European Union directive on alternative dispute resolution.
Richard joined the ombudsman panel in 2003. He worked on investment, mortgage endowment, PPI and banking related complaints before moving to his current role.
Richard will address:
Financial Ombudsman Service – insurance, impact and innovation:
• The ombudsman service as part of the ADR landscape
• Looking at insurance complaints, trends and issues with some case studies
• The impact of ADR in this area
• How the ombudsman service is changing
John Houlihan is Co-Chair of Locke Lord LLP’s Banking and Financial Institutions Litigation Practice Group and represents banks, insurance companies, and leasing companies in courts and arbitration proceedings across the United States.
Elizabeth Tosaris is a partner in Locke Lord LLP’s Insurance Regulatory practice group and a leading regulatory and transactional lawyer. Recognized in Chambers USA 2015 for Insurance: Transactional and Regulatory, Elizabeth regularly assists insurers and other regulated entities on achieving compliance with insurance statutes and regulations.
“How indirect discrimination claims will change underwriting practices”
John and Elizabeth will address:
- Challenges to traditional underwriting criteria – indirect discrimination claims
- The US experience – the recent ‘disparate impact’ cases
- Developments in the UK, Europe and elsewhere
- Regulatory responses
- What should underwriters do?
Maria Gawne is an Assistant Legal Director in the Consumer lawyers’ team at the CMA. She is a qualified barrister and after working at the Bar in general practice for several years she has worked on consumer matters at the CMA and the Office of Fair Trading before that for over 12 years in total. During that time she has worked on many regulatory and policy matters relating to unfair terms including the first UK higher courts decision on unfair terms, the 2001 House of Lords judgment in Director General of Fair Trading v First National Bank. Recently she has worked with policy and legal colleagues on the OFT and CMA’s contributions to BIS on its enactment of part 1 of the Consumer Rights Act (supply of goods and services and blacklisted exclusion clauses) and BIS’s implementation of the Consumer Rights Directive, and was a member of the legal team contributing on parts of the recently published CMA guidance on Unfair Contract Terms.
Andrew Hadley is a Policy Advisor at the CMA, and is currently the Policy Lead on Unfair Contract Terms. His academic background is in medieval history and philosophy. He has worked at the CMA and its predecessor OFT since 2001, largely on the UK implementation, enforcement and Guidance of European Consumer Protection Directives including the UCPD and the UTD. He led the UK and CMA’s involvement in the second and third years of a European Unfair Terms Strategy project between enforcement agencies in 2014-15. In 2015 he was the project manager and editor of the CMA’s revised suite of Guidance on Unfair Contract Terms and has since been working on various related compliance, enforcement and policy projects.
Andrew and Maria will address:
• An overview of the law on unfair contract terms as updated by the Consumer Rights Act 2015
• Analysis of the key legal concepts
• Some thoughts about the implications of recent ECJ cases and changes introduced by the Consumer Rights Act
• Relationship with other new law: Consumer Contracts (Information, Cancellation and
• Additional Charges) Regulations 2013
• Some potential areas of specific interest to the insurance sector
• A chance to discuss and ask questions